Bicycle Market Size, Share, Trends, Growth Opportunities, Segmentation, Competitive Landscape and Forecast

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Bicycle Market


 

  The increase in the number of people choosing bicycling as a form of recreation is expected to drive growth. The preference for bicycles as a convenient form of exercise to ensure a healthy life free of obesity and other disorders is expected to drive market growth further. Dockless bicycle-sharing systems are becoming increasingly popular. Users can use this system to locate a nearby bicycle and unlock it electronically. Dockless bicycle-sharing systems, which originated in Europe, are gaining popularity, particularly in Asian countries such as India and China.

  People are considering bicycle commuting for short distances to save time due to increasing traffic congestion and a lack of parking space, particularly in metropolitan cities. Simultaneously, various governments are aggressively building the infrastructure required to support the bicycle market, thereby encouraging people to choose bicycles. However, the looming lack of infrastructure required to support and encourage bicycle commuting, particularly in developing economies such as India, is expected to stymie the bicycle market growth. Similarly, lightweight bicycles made of composite materials are costly, which does not bode well for market expansion.

  People have begun to recognize the significance of staying fit and living a healthy lifestyle. They have also begun to recognize that regular bicycling can help keep disorders like obesity at bay. The market is expected to expand as more people turn to bicycles as a regular form of exercise.

  The popularity of these vehicles is being boosted by events such as the Tour de France and the Ronde van Vlaanderen. Meanwhile, an increase in the number of bicycling events organized in various countries throughout Asia, Africa, and the Middle East is fueling sales of both mountain and road bicycles.

  Giant Bicycle Inc., Samchuly Bicycle Co., Ltd., Atlas Cycles Ltd., Tandem Group plc, Derby Cycle, Merida Industry Co. Ltd., Avon Cycles Ltd., Dorel Industries Inc., Trek Bicycle Corporation, Xiaomi, Accell Group, Zhonglu Co. Ltd., and Tube Investment of India Limited are key players in the global bicycle market.

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